But the company also repeated its warnings from last year that a slowdown in sales is expected in 2014. Even though sales could fall 3%, Deere still projects a full-year profit of about $3.3 billion, down $200 million from 2013.

Falling Demand

Much of the forecast is based on farmers seeing a bumper crop of soybeans and corn last year. Those big crops dropped commodity prices from record levels. That’s expected to leave less money in farmer’s wallets.